According to the latest data, Ripple’s top accounts keep accumulating XRP in their wallets. Such changes can be tracked on the website of the analytical service Ledger.exposed. As you can see, a sharp increase can be seen in all sections. XRP is accumulated mainly by owners whose capital is from 10,000 XRP and more tokens.
Note that the huge 1 mln XRP is owned by only 8 users. The same number of Ripple holders own from 500 thousand XRP to 1 mln XRP. Balances more than 10,000 XRP have about 300 holders.
Therefore, some of these people bought more than 1.5 million XRP in less than three months, with more than 22 thousand XRP purchased during this week.
Thus, perhaps the holder are accumulating because they a large growth in the price of XRP. This is also indicated by the following chart. There is a completed pattern formed on the chart, so XRP rate could rise in the near future.
In general, XRP exchange rate will depend on many extraneous factors. The coin has high investment potential since the project really has a lot of useful options that simplify activities in many industries. The main criteria that will affect the future price of currency include:
- Bitcoin market sentiment;
- qualified technically sound actions of the project creators;
- cryptocurrency community interest.
Note, that Ripple price behavior in the market, as usual, is not the same as that of other cryptocurrencies. While BTC and altcoins drop, XRP can hold onto its positions, and sometimes even stronger against the background of lower prices for other cryptocurrencies.
XRP is the fourth-largest cryptocurrency by market, and Ripple, its parent company, keeps churning out myriads of innovation into the remittance industry. Regarding price trends, some analysts believe that the coin will enter into partnerships with numerous financial institutions. This event may affect the achievement of the mark of $ 2 or even more in the near future.
To date, experts agree that the main factor in a positive forecast for the cryptocurrency is the trust of banking institutions. Most financial institutions accepted the digital coin as a real currency with a free conversion of funds.
Is The Altseason Coming?
Over the past day, the rate of many cryptocurrencies has reached a new ATH. Among them are CEL, REN, SNX, LINK, and others.
Despite the correction in the crypto market, there is a chance that the rally will continue.
We also note that the dominance of the leading cryptocurrency has slightly decreased. According to the CoinMarketCap resource, the indicator is 64% now.
At the same time, many crypto enthusiasts are waiting for positive news and changes in the cryptocurrency world.